Kalshi vs Manifold

How Kalshi vs Manifold compare on our ratings, prediction market specs, funding, pros and cons.

Kalshi4.3/5
VS
Feature
Ratings
Our score4.3/53.6/5
User ratingNo reviews yetNo reviews yet
Market selection4.54.5
Liquidity4.52.5
Fees4.04.0
Resolution quality4.52.5
Ease of use4.04.5
Specs
Market typesPolitics, Sports, Crypto, Economics, Culture, WeatherPolitics, Sports, Crypto, Economics, Culture, Science
Settles inUSDMana (virtual play currency)
ChainsOtherNot disclosed
Trading feesModel fee rounded to $0.000001 precision with balance rounding fees10% x amount_traded x (1 - max_price_per_share_bought)
Resolution sourceOfficial government and industry statistics, primary source reportingMarket creator resolution subject to community guidelines
Available in the US Yes Yes
KYC required Yes No
Regulated venue Yes No
Market topicsElections, Macroeconomics, Sports, Cryptocurrency, Weather, Financial IndicesNews, Politics, Tech & AI, Science, Economics, Personal goals
Mobile appNot disclosed Yes
Company
Founded20182021
HeadquartersUnited StatesUnited States
InvestorsBaillie Gifford, Layer Global, TCV, Coatue +9Astral Codex Ten, FTX Future Fund, Survival and Flourishing Fund
Strengths and weaknesses
Pros
  • Registered Designated Contract Market status provides federal regulatory oversight for US-based traders
  • Deep liquidity exceeding $2B in weekly volume across major events in May 2026
  • Transparent dollar-denominated balances eliminate stablecoin depeg risks
  • Subpenny orderbook precision down to $0.0001 allows fine-grained execution
  • Free registration includes a starting grant of 1,000 Mana
  • Open market creation lets any user propose custom questions
  • No mandatory KYC verification required for standard forecasting
  • Available globally as a play-money prediction platform
Cons
  • Requires full identity verification (KYC), preventing anonymous participation
  • Centralized custody of cash balances without on-chain asset withdrawals
  • Subject to regulatory exclusions, including a 2026 trading ban on US Senate staff
  • Unprofitable to profitable user ratio reached 2.9 to 1 in 2026
  • Market creators handle resolutions, introducing subjectivity and dispute risk
  • Mana play currency cannot be withdrawn or converted to fiat cash
  • Lack of real cash payouts
  • Unregulated venue with no statutory investor protections
Best forUS residents wanting regulated event contracts, Quantitative traders using FIX and REST APIs, Sports bettors preferring central orderbook pricingCasual forecasters testing predictive calibration, Community organizers hosting custom wagers, Users who want to forecast without real-money stakes

Highlighted cells show the stronger value in each row. Data comes from each provider's site and public sources; check details before you sign up.

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